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Not countering an offer?
Dated: December 3 2018
Not Countering an Offer?
While everyone would love to get the most for their home, as the seller, you also need to keep a realistic balance. It is too easy to get hung up on the starting number in an offer when the focus should be on what the end result is.
"The opening offer is simply that –a starting point."
It gets a conversation going and results in hopefully a happy medium that is amenable to the buyer and seller. Not countering an offer is like having a one way conversation. It won’t work. How can you move to sold if you can’t have a dialogue of back and forth? It doesn’t mean that the buyers aren’t serious, they are simply being conservative in their first offer to get a feel for how the negotiation is going to go. It doesn’t mean that is the most they are willing to pay unless the offer was positioned that way.
Failure to counter sends a discouraging signal to the buyer that can create an uncomfortable situation, perceived or real. Buyers want to do business with sellers who are eager to do business with them. You don’t have to give away the store to do so, but certainly responding with a number in good faith is a step in the right direction.
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When you make an offer on a home, part of that offer can include a little show of good faith on your part, in the form of cold, hard cash. Generally, one to three percent of the offer price is